MAG MAG Silver Corp

Canasil Resources Inc. (TSX VENTURE:CLZ)(FRANKFURT:3CC) ("Canasil" or the
Company) announces that MAG Silver Corp. (TSX:MAG)(NYSE MKT:MVG) ("MAG") has
provided an update on MAG's exploration program at Canasil's Salamandra
silver-copper-zinc-lead project in Durango State, Mexico. MAG confirms
completion of the required first year 3,000 metre diamond drill program and
minimum CAD$ 1,000,000 exploration expenditures, and plans to extend the program
by at least an additional 500 metres, under an option agreement for MAG to earn
up to a 70% interest in the Salamandra project. Assays are pending for the
completed drill holes. MAG further noted that detailed geologic mapping and
sampling and systematic review of Canasil's geophysical surveys and drilling
results have generated twenty drill targets around the outcropping intrusive
complex and surrounding alluvial and volcanic cover at Salamandra.


MAG provided the following exploration update on Salamandra in a news release
issued on February 17, 2014:


"In May 2013, the Company ("MAG") entered into an option agreement with Canasil
Resources Inc. ("Canasil") whereby the Company ("MAG") can earn up to a 70%
interest in Canasil's 14,719 hectare Salamandra property located in Durango
State, Mexico. Drilling began in the fourth quarter of 2013 under a committed
initial 3,000 metre drill program as required under the option agreement. The
option agreement also requires MAG to incur expenditures of $1 million in the
first year. Both of these requirements have been met and the currently active
drilling program has been extended by at least another 500 metres. Salamandra
appears to be a typical Mexican Carbonate Replacement/Skarn system and lies 80
kilometres northwest of the Sabinas (Penoles) and San Martin (Grupo Mexico)
mines that exploit Mexico's largest known silver-lead-zinc skarn deposit.
Salamandra is also similar to MAG's Cinco de Mayo Project and the same
exploration model that drove successful exploration there is being applied at
Salamandra. MAG undertook detailed geologic mapping and grid sampling of the
property and systematically revaluated Canasil's geophysical surveys and
drilling results to generate over twenty drill targets around the central
outcropping intrusive complex and under alluvial and volcanic cover to the east
and west. Most of these targets lie from 500 to 2,500 metres from the
mineralized zone Canasil drilled. 


The initial 3,000 metre diamond drilling program commenced in late November 2013
and was completed on February 11, 2014. The first hole of the extended program
is in progress. Assay results are pending." 


Canasil-MAG Salamandra agreement:

Under the agreement, MAG has a first option to earn 55% interest in Salamandra
by incurring C$5,500,000 exploration expenditures and C$750,000 cash payments to
Canasil over four years. The first year expenditures of C$1,000,000, which must
include at least 3,000 metres of diamond drilling, will be a firm commitment. On
completion of the first option, MAG will have a second option to earn an
additional 15% interest, for a cumulative 70% interest, by either preparing and
delivering a NI43-101 compliant feasibility study within four years, or by
incurring an additional C$20,000,000 in exploration expenditures over four
years, with a minimum annual expenditure of C$2,500,000.


About Salamandra:

The Salamandra project covers 14,719 hectares (36,371.44 acres) and is located
35 kilometres northeast of the city of Durango. Access is excellent from the
city of Durango via paved and gravel roads. Exploration results to date at the
Salamandra project indicate the potential for a large intrusive-related,
carbonate-hosted massive sulphide skarn/manto replacement system (CRD). The
mineralized system is centered on a domal structure related to an intrusive
complex that occupies the center of the property. Widespread
silver-copper-antimony-arsenic surface anomalies with peripheral lead and zinc
anomalies are found over a very large area. Extensive skarn and hornfels,
intrusive and mineralized breccia dikes, and well mineralized fracture/veins
represent a few of the hallmark CRD features that are present. Prior drilling
cut high-grade zinc and silver mineralization within hornfels which is believed
to overlie the same thick limestone host rock section that hosts the nearby San
Martin-Sabinas, La Parilla and La Colorada CRD mines.


About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of
100% owned silver-gold-copper-lead-zinc projects in Durango, Sinaloa and
Zacatecas States, Mexico, and in British Columbia, Canada. The Company's
directors and management include industry professionals with a track record of
identifying and advancing successful mineral exploration projects through to
discovery and further development. The Company is actively engaged in the
exploration of its mineral properties, and maintains an operating subsidiary in
Durango, Mexico, with full time geological and support staff for its operations
in Mexico.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canasil Resources Inc.
Bahman Yamini
President and C.E.O.
(604) 709-0109
admin@canasil.com
www.canasil.com

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